How to Purchase Bitcoin (BTC) using Filecoin (FIL)

To buy Bitcoin using Filecoin, first, find a cryptocurrency exchange that supports the BTC/FIL trading pair, such as YouHodler, Binance, BTSE or Coinbase. Create an account, verify your identity, and deposit your FIL into your exchange wallet. Locate the BTC/FIL pair on the trading platform and place an order to exchange your Filecoin for Bitcoin. If the BTC/FIL pair is unavailable, you can first exchange Filecoin for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Bitcoin. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.